You’ve probably heard of Algomi, a highly-successful Fintech company providing software for fixed-income market data. Algomi’s most recognised product, Honeycomb, offers buyers information on the distribution capabilities of banks on the Algomi network, without revealing the clients’ intention to the banks.

However, you may not have heard of Synchronicity, another Algomi innovation developed for banks. Synchronicity is a Java based platform, which enables banks to recognise the best trade opportunities and promote effective collaboration between all parties involved. Essentially an extension of Honeycomb, Synchronicity is not a trading platform, therefore banks can use their trading system of choice to connect to the Honeycomb interface and help provide liquidity in the bond market.

Why is Synchronicity important?

Over the years, banks have struggled with managing large amounts of sensitive information on investments. This is partly due to the lack of recent technological advances, but also because of the inability to fit the right people with the right trade opportunities.

This is expected since working in bond sales requires going through an overwhelming amount of data on a daily basis. These data have to be classified, analysed and constantly updated and this cannot be done efficiently without the use of technology. Monitoring and prioritising this amount of data in order to unravel opportunities is almost impossible, and as expected information is lost in the process.

This is not the case anymore. Synchronicity, helps bring every relevant data touch point into one place, creating a virtual balance sheet. This innovative Algomi investment technology can combine thousands of abstract points produced within the sales and trading functions of a bank and then match and identify the people who are associated with this data in real time. In this way, the right data are linked with the relevant people and presented in context.

Information handled by Synchronicity includes reference data, sales coverage, client portfolios, trades, RFQ, axe feeds, live prices, as well as voice and electronic inquiries data, which make up the millions of data points currently missed, lost or ignored. Synchronicity gathers this data in one place allowing for thorough examination and analysis for banks and investors.